Treasury yields climb amid economic recovery hopes

U.S. Treasury yields climbed on Monday morning, signaling growing market confidence that an economic recovery is close, following the coronavirus pandemic.

The yield on the benchmark 10-year Treasury note rose to 1.369% at 3:45 a.m. ET, while the yield on the 30-year Treasury bond advanced to 2.162%. Yields move inversely to prices.

The White House said it expects to finish sending out millions of doses of coronavirus vaccines this week, after a sweeping winter storm disrupted its distribution logistics.

Meanwhile, January data from the Chicago Fed National Activity index, which is considered as a broader indicator for national economic activity, is due out at 8:30 a.m. ET.

The Federal Reserve Bank of Dallas is expected to publish February data for its Texas manufacturing index at 10:30 a.m. ET.

Fed Governor Michelle Bowman is due to make a speech on economic inclusion in lower-income communities at the Dallas Fed’s Advance Together Celebration, at 3:30 p.m. ET.

Auctions will be held Monday for $54 billion of 13-week bills and $51 billion of 26-week bills.